ABOITIZ POWER Corp. (AboitizPower) is optimistic about reaching its renewable energy (RE) expansion target by 2030, with two new power projects expected to be completed this year.
“AboitizPower is determined to fulfill this ambition. In fact, based on our pipeline, we continue to make progress towards achieving our balanced mix portfolio target in the next 10 years,” Emmanuel V. Rubio, president and chief executive officer of AboitizPower, said in a Viber message last week.
Mr. Rubio said the company expects to complete its Cayanga solar photovoltaic project in “the next few months.” In February 2022, the energy company of the Aboitiz group announced the construction of the 94-megawatt-peak solar farm in Pangasinan.
“We are also expecting the completion of our Tiwi binary power plant — with a nameplate capacity of 17 MW — by December this year,” Mr. Rubio said.
Earlier this year, AboitizPower, through its subsidiary AP Renewables Inc., broke ground for its binary geothermal power plant project in Tiwi, Albay.
The company expects an additional 17 MW from its geothermal power plant. The project will be built with an entirely new binary plant system, pipes, and transmission line.
“Together with its partners, AboitizPower offers the most diverse RE types in the Philippines — from solar, hydro to geothermal, and eventually wind. It is constantly pursuing opportunities to grow its green portfolio en route to reaching 4,600 MW,” Mr. Rubio said.
The company is targeting to expand its renewable energy portfolio in the next 10 years. It has set an ambition of building an additional 3,700 MW of RE, growing its capacities to 4,600 MW by 2030.
To date, the company has a pipeline of projects of over 1,000 MW, which include the development of wind, solar, and geothermal plants. — Ashley Erika O. Jose